Underwriting Profit definition

Underwriting Profit means, with respect to a Measurement Period, Net Premiums Earned reduced by Total Underwriting Expenses and Incurred Losses and Loss Adjustment Expense for such Measurement Period.
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Underwriting Profit has the meaning set forth in Article II(B)(1) hereof.
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Examples of Underwriting Profit in a sentence

  • An Investment Profit Commission and an Underwriting Profit Commission shall be calculated annually by the Reinsured during the term of the Agreement.

  • The UWS Parties and NHC shall reconcile amounts owed with respect to the Aggregate Service Profit (Loss) and the Aggregate Net Underwriting Profit (Loss) within 180 days after the end of the initial five (5) year term of this Agreement.

  • Payment of the Underwriting Profit Adjustment shall be made in accordance with Section 2.3(c).

  • Either Party may offset any balance, whether on account of Aggregate Service Profit (Loss) or Aggregate Net Underwriting Profit (Loss) or Aggregate Net Underwriting Profit (Loss), due from one party to the other under this Agreement.

  • In the event the Underwriting Profit Adjustment is greater than zero, the Underwriting Profit Adjustment shall increase the amount of the Purchase Price.

  • If Underwriting Profit is 3.5% for the applicable fiscal year, the Company would pay to Executive $87,500.00 ($25,000.00 times 3.5) for such fiscal year.

  • For purposes of this Agreement, "Underwriting Profit" means the ratio of (A) gross income from insurance operations, including all fees, before taxes, but excluding all investment income, to (B) earned premium, as calculated by the Company's Chief Financial Officer based on the Company's internally prepared financial statements for the applicable fiscal year.

  • If the sum of the Underwriting Profits or Underwriting Losses of all open Accident Years for all lines is a net Underwriting Loss as of the end of the applicable calculation period, there shall be no payment due to PBC by OLIC and the amount of any such net Underwriting Loss shall be carried forward and applied against any Underwriting Profit reported on the Contingent Compensation Statement of succeeding periods until offset in full by a subsequent Underwriting Profit.

  • The Purchase Price shall be equal to the aggregate of the Base Purchase Price, the Shareholders’ Equity Adjustment and the Underwriting Profit Adjustment, each as defined below (collectively, the “Purchase Price”).

  • In the event the Underwriting Profit Adjustment is greater than the Underwriting Profit Adjustment previously paid to the Sellers, the Underwriting Profit Adjustment shall increase the amount of the Purchase Price.